Electronic trade processing system and method

Abstract

In one implementation, a computer-implemented method, executed on a computing device and configured to effectuate a trading platform, includes: receiving balance information from a Value Unit Repository (VUR) to maintain a local balance datastore; receiving a matched order concerning a plurality of parties; and confirming that one or more balances defined within the local balance datastore and associated with the plurality of parties are sufficient to execute the matched order.

Description

RELATED APPLICATION(S)[0001]This application claims the benefit of the following U.S. Provisional Application Nos.: 62 / 738,274, filed 28 Sep. 2018; 62 / 738,250, filed 28 Sep. 2018; 62 / 739,705, filed 1 Oct. 2018; 62 / 739,723, filed 1 Oct. 2018; 62 / 770,605, filed 21 Nov. 2018; 62 / 824,558, filed 27 Mar. 2019; 62 / 825,432, filed 28 Mar. 2019; 62 / 844,581, filed 7 May 2019; 62 / 844,591, filed 7 May 2019; 62 / 863,455, filed 19 Jun. 2019; and 62 / 882,834, filed 5 Aug. 2019, their entire contents of which are herein incorporated by reference.TECHNICAL FIELD[0002]This disclosure relates to trade processing systems and, more particularly, to electronic trade processing systems.BACKGROUND[0003]Modern trading systems are large, complex, computer-implemented systems. Gone are the days of the trading floor being crowded with groups of traders screaming their bid and ask prices to close a deal. Today's trading systems operate in silence with digital efficiency, as bid orders and ask orders are quietly ma...

AI Technical Summary

Benefits of technology

The patent describes a computer-implemented method for a trading platform that can confirm if there is enough balance in a local database to execute a matched order involving multiple parties. The method includes receiving balance information from a qualified custodian, bank, trust company, digital asset wallet, dealer, or broker / dealer. The execution of the matched order is either authorized or rejected based on the balance information. The system also monitors the Electronic Communications Network (ECN) to determine if it has been restarted and will update the local database with current balance information if necessary. The technical effect of this patent is to provide a more efficient and reliable platform for executing matched orders involving multiple parties.

Problems solved by technology

Modern trading systems are large, complex, computer-implemented systems.

Unfortunately, as the cutting edge becomes the new normal, existing systems need to adapt to address and incorporate new methodologies and concepts.

For example, the trading of cryptocurrency has presented the existing trading infrastructure with complex challenges concerning how to integrate such new technology into existing systems.

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